The US Treasury Department this week penalized a German firm for industrial-scale sanctions evasion after it was caught smuggling a decommissioned petrochemical plant from Australia to Iran, but according to experts, the fine will not deter other foreign actors from trying to circumvent sanctions against Iran.

Aiotec GmbH, an industrial equipment–sourcing company, agreed to pay the $14.5 million to the Office of Foreign Assets Control, the Treasury branch that enforces penalties, sanctions and fines against entities and individuals, the department announced on Dec. 3.

OFAC fined Aiotec for deceiving business partners by falsifying documents that would allow it to dismantle and ship to Iran an Australian polypropylene facility with an approximate capacity of 150,000 tons of plastic a year. Between 2015 and 2019, the company conspired to have a US company indirectly sell and supply the plant to Iran and remit payments for it through US financial institutions.

OFAC agreed to suspend $9.5 million of the $14.5 million fine in exchange for Aiotec's guarantee of future compliance, therefore allowing the firm to remain in business, according to Treasury documents.